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Principles-of-Management practice braindumps & Principles-of-Management test prep cram

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WGU Principles of Management at Western Governors University(IAC1) Sample Questions (Q31-Q36):

NEW QUESTION # 31
Entrepreneurs who want to start a new business need to understand the level of risk and both dimensions.
What do entrepreneurs use to assess levels of risk and innovation?
Choose 1 answer
involved in establishing a new venture and must then decide if they are comfortable with

A. Entrepreneurial loss function diagram
B. Entrepreneurial strategy matrix
C. Innovation creation diagram
D. Collaboration tracking matrix

Answer: B

Explanation:
Entrepreneurs who want to start a new business need to assess levels of risk and innovation involved in establishing a new venture. The tool commonly used to assess these dimensions is the Entrepreneurial Strategy Matrix.
* Entrepreneurial Strategy Matrix(Answer D): This matrix helps entrepreneurs evaluate their business ideas by plotting the level of innovation (low to high) against the level of risk (low to high). This analysis aids in understanding the feasibility and potential success of the new venture by identifying which strategies are likely to succeed given the level of risk and innovation involved.
* Collaboration Tracking Matrix(Answer A) andInnovation Creation Diagram(Answer B): These are not standard tools used to assess risk and innovation in entrepreneurship as described in the textbook.
* Entrepreneurial Loss Function Diagram(Answer C): This is not a recognized tool for assessing risk and innovation in entrepreneurial ventures as per the principles of management.

NEW QUESTION # 32
A company believes that their manufacturing processes can be measured, analyzed, improved, and controlled.
They have the commitment of the entire organization, particularly top management, to initiate a quality control process. The company has decided to produce output of their product at or below a particular defect level with the goal of improving all of their processes to that level of quality or better.
Which quality process is the company using?
Choose 1 answer

A. Customer relationship management
B. Six Sigma
C. ISO 9000
D. Reengineering

Answer: B

Explanation:
The quality process the company is using is Six Sigma. Six Sigma is a disciplined, data-driven approach and methodology for eliminating defects in any process. It emphasizes the measurement, analysis, improvement, and control of manufacturing and business processes with the aim of producing output at or below a particular defect level. This approach requires the commitment of the entire organization, particularly top management, to ensure continuous process improvement and to maintain high standards of quality.

NEW QUESTION # 33
The director of human resources for a start-up company is reviewing staffing needs and has discovered a labor deficit. How can the director use strategic human resource planning in this situation? Choose 1 answer

A. Implement employee conflict resolution system
B. Plan to reduce turnover through nonfinancial rewards
C. Establish strategic goals for improvement of manufacturing performance
D. Reconcile employee supply and demand

Answer: D

Explanation:
In strategic human resource planning, reconciling employee supply and demand is crucial when addressing a labor deficit. This involves analyzing the current workforce, predicting future staffing needs, and developing plans to ensure the organization has the right number of employees with the appropriate skills.
* Reconcile Employee Supply and Demand(Answer C): This process involves assessing the current workforce, forecasting future needs, and developing strategies to meet those needs. It ensures that the organization can meet its strategic goals by having the right people in the right places at the right times.
* Plan to Reduce Turnover Through Nonfinancial Rewards(Answer A) andImplement Employee Conflict Resolution System(Answer B): While important for employee retention and workplace harmony, these do not directly address the immediate issue of a labor deficit.
* Establish Strategic Goals for Improvement of Manufacturing Performance(Answer D): This is relevant to overall strategic planning but not specific to addressing a labor deficit.

NEW QUESTION # 34
What is a core job dimension described in the Hackman and Oldham model of job design? Choose 1 answer

A. Networking
B. Compensation
C. Quality
D. Autonomy

Answer: D

Explanation:
A core job dimension in the Hackman and Oldham model of job design is autonomy.
* Autonomy(Answer B): This refers to the degree to which a job gives an employee the freedom, independence, and discretion to schedule work and determine the procedures for carrying it out. It is a critical aspect that influences motivation and job satisfaction.
* Compensation(Answer A) andNetworking(Answer D): These are not part of the core job dimensions in the Hackman and Oldham model.

NEW QUESTION # 35
What is the first step of the control process? Choose 1 answer

A. Comparing performance against standards
B. Measuring performance
C. Setting performance standards
D. Taking corrective action

Answer: C

Explanation:
The first step of the control process is setting performance standards.
* Setting Performance Standards(Answer B): This step involves establishing the criteria against which performance will be measured. These standards serve as the benchmark for assessing actual performance and determining any necessary corrective actions.
* Measuring Performance(Answer C) andComparing Performance Against Standards(Answer D): These
* steps come after setting performance standards.
* Taking Corrective Action(Answer A): This is the final step in the control process.

NEW QUESTION # 36
......

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